India’s forex kitty jumps by USD 816 mln to USD 653.71 bln

India’s foreign exchange reserves increased by $1 million to $429.711 billion for the week ended June 21, as reported by the RBI on Friday. In the previous reporting week, the overall reserves had decreased by $2.922 billion to $428.895 billion. The all-time high for the reserves is $429.817 billion, achieved on June 7. For the week ended June 21, foreign currency assets, a major component of the reserves, decreased by $3 million to $400.134 billion, according to the data released on Friday. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound, and yen held in the foreign exchange reserves. Gold reserves increased by $4 million to $56.956 billion during the week, as stated by the RBI. The Special Drawing Rights (SDRs) were down by $57 million to $18.049 billion, as confirmed by the apex bank. India’s reserve position with the IMF was down by $9 million to $4.572 billion in the reporting week, according to the apex bank data.